June 2020
Intermediate to advanced
304 pages
10h 40m
English
Content preview from The AI Book
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CHAPTER 40Fear and Greed
By Eleftherios Jerry Floros1
1CEO and Founder, MoneyDrome X
There are two emotions – fear and greed – that guide financial trading and affect the financial markets globally.
Billions of dollars’ worth of trades swing back and forth between profit and loss and the only constant is risk.
In finance, emotions should not guide traders, only effective risk management.
And for that reason, investment banks and financial institutions have established effective risk management systems to ensure that trades are based on sound financial decision-making and trading discipline, but most importantly, to prevent losses.
In an effort to enhance trading profits, algorithms have been introduced that are back-tested and deployed as independent trading bots, but the results have been mixed.
Why? Because the algorithm is still designed by a human who is prone to errors.
Artificial intelligence and ML will take financial trading to an entirely new level and with quantum computing, to an entirely new dimension.
Man vs Machine
In the near future, financial trading will be done almost completely devoid of human intervention.
Algorithms designed using artificial intelligence will replace the financial trader as we know them today. Entire trading floors will be replaced by trading bots that will place trades independently, with limited human supervision.
Not only will trading floors fade into history, entire exchanges will become virtual.
And as the transformation from man ...
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